Equity Release Funding (No.3) PLC Equity Rrelease(No.3) PLC - Data Update (3978T)
18 7월 2020 - 12:22AM
UK Regulatory
TIDM39PV
RNS Number : 3978T
Equity Release Funding (No.3) PLC
17 July 2020
17 July 2020
Equity Release Funding (No.3) PLC
(the "Issuer")
Re: GBP310,000,000 Class A2 Mortgage Backed Notes due 2033 (XS0169950531)
GBP50,000,000 Class A3 Mortgage Backed Limited Price Index Notes
due 2023 (XS0169950705)
GBP42,000,000 Class B Mortgage Backed Floating Rate Notes due
2038 (XS0169951000)
The Issuer notes that the Halifax House Price Index (the
"Index") was rebased in September 2019. The Weighted Average
Indexed LTV (the "LTV") outlined in the Issuer's quarterly investor
reports are calculated using the Index. The Issuer has today
published a restated version of the quarterly Investor Report dated
20 April 2020, which reflects changes to the LTV statistics as a
result of the rebase of the Index.
In addition, following a review of the data and process used to
produce the Issuer's quarterly Investor Reports, a number of
corrections have been made, which are shown in the restated
Investor Report. The Issuer has noted in the restated Investor
Report all fields which have been restated. The document is
available at www.erfunding.co.uk.
All changes are shown in the restated Investor Report. However,
the Issuer notes in particular the following changes:
Voluntary Repayment Time to sale Repayment Weighted
Rate (%) (days) Rate (%) Average
Indexed
LTV (%)*
Published on
20 April 2020 1.39 259 2.78 43.1
-------------------- ------------- ---------- ----------
Restated on
17 July 2020 1.80 276 5.82 45.0
-------------------- ------------- ---------- ----------
Change 0.41 17 3.04
-------------------- ------------- ---------- ----------
* The Indexed LTVs are calculated using Halifax House Price
Index. The index was rebased in Sep-19 and this shows LTVs on the
new basis.
All processes that were previously used to generate the
statistics have been reviewed, corrected and tested to ensure the
issue has been fully resolved. The corrections do not affect the
amounts of any payments which have been made under the Notes or to
other parties to the securitisation transactions.
This announcement has been shared with Credit Rating Agencies
that provide ratings for the Issuer's Portfolio.
This notice is given by:
Equity Release Funding (No.3) PLC
17 July 2020
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCMZGMNKNLGGZM
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